Binance Completes a Zero-Knowledge Proof Confirming Its October 31 Reserves Snapshot

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• Binance says it has completed a zk-SNARK proof confirming that ten major tokens were backed at a minimum of 1:1 as of a snapshot taken at 00:00 UTC on October 31, 2026
• The ten covered tokens are Bitcoin, Ether, Tether, BNB, Solana, USD Coin, XRP, USD1, RLUSD and Zcash
• Users can independently verify their own balances were included using an open-source verifier tool that Binance says has been audited by security firm Hacken

Binance published its fifth recovery update on November 2, 2026 at 12:45, announcing that it had completed generating a full zero-knowledge proof for the Proof of Reserves snapshot it took at 00:00 UTC on October 31, 2026. The exchange had flagged in a prior update that generating the proof would take an estimated 40 to 50 hours, and this update confirms that process finished.

According to Binance’s own description, the proof uses a combination of a Merkle Tree and a zk-SNARK, a type of cryptographic proof that can confirm a mathematical statement is true without revealing the underlying private data behind it. In this case, the zk-SNARK confirms that Binance’s reserves for ten specific tokens were backed at a minimum of one to one at the moment of the snapshot, without disclosing any individual user’s actual account balance in the process.

The ten tokens covered by this proof are Bitcoin, Ether, Tether, BNB, Solana, USD Coin, XRP, USD1, RLUSD and Zcash. Binance says users holding any of these tokens can verify that their own account balance was correctly included in the snapshot by downloading an open-source verifier tool from the exchange’s Proof of Reserves website and running it locally on their own computer, rather than having to trust Binance’s reporting on faith. The exchange states that the verifier tool itself has been independently audited by security firm Hacken.

Binance’s update also previews what comes next: a further Proof of Reserves snapshot is planned for November 4, 2026, which the exchange says will expand coverage to include more tokens beyond the current list of ten. Generating the full zero-knowledge proof for that broader snapshot is again expected to take roughly 40 to 50 hours once the snapshot itself is taken.

Publishing a verifiable reserves proof in the days following a major security incident is a step exchanges have increasingly taken to rebuild user confidence after a breach, giving customers a way to independently check the exchange’s solvency claims rather than relying solely on its own public statements. The update is published on Binance’s own announcement page.